Wells Fargo & Company MN Purchases 223,682 Shares of Ramaco Resources, Inc. (NASDAQ:METC)

Wells Fargo & Company MN increased its stake in shares of Ramaco Resources, Inc. (NASDAQ:METC - Free Report) by 39.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 797,283 shares of the energy company's stock after acquiring an additional 223,682 shares during the quarter. Wells Fargo & Company MN owned approximately 1.52% of Ramaco Resources worth $8,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of METC. AlphaQuest LLC bought a new stake in shares of Ramaco Resources in the fourth quarter worth about $50,000. Campbell Capital Management Inc. purchased a new stake in Ramaco Resources in the 4th quarter worth approximately $51,000. Jones Financial Companies Lllp bought a new stake in shares of Ramaco Resources in the 4th quarter worth approximately $56,000. Royce & Associates LP purchased a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $94,000. Finally, Prairiewood Capital LLC bought a new position in shares of Ramaco Resources during the fourth quarter valued at approximately $103,000. 74.49% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ramaco Resources

In other news, major shareholder Yorktown Energy Partners Xi, L sold 98,274 shares of Ramaco Resources stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $8.85, for a total value of $869,724.90. Following the completion of the sale, the insider now directly owns 1,052,404 shares in the company, valued at $9,313,775.40. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter A. Leidel sold 225,000 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $8.08, for a total value of $1,818,000.00. Following the completion of the transaction, the director now owns 677,403 shares in the company, valued at approximately $5,473,416.24. This trade represents a 24.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 922,582 shares of company stock worth $7,898,023. Corporate insiders own 41.20% of the company's stock.

Ramaco Resources Stock Up 3.3 %

METC traded up $0.30 during trading on Wednesday, reaching $9.52. The stock had a trading volume of 101,719 shares, compared to its average volume of 600,213. The stock's 50 day moving average is $8.94 and its two-hundred day moving average is $10.19. The company has a market capitalization of $514.08 million, a price-to-earnings ratio of 14.65 and a beta of 1.14. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. Ramaco Resources, Inc. has a one year low of $6.30 and a one year high of $16.61.

Ramaco Resources (NASDAQ:METC - Get Free Report) last announced its quarterly earnings data on Monday, March 10th. The energy company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.36). Ramaco Resources had a return on equity of 10.17% and a net margin of 5.35%. The business had revenue of $170.90 million during the quarter, compared to analysts' expectations of $166.59 million. During the same quarter last year, the company posted $0.24 EPS. Ramaco Resources's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts expect that Ramaco Resources, Inc. will post 0.05 earnings per share for the current year.

Ramaco Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.0688 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.89%. Ramaco Resources's dividend payout ratio is currently 245.45%.

Wall Street Analyst Weigh In

METC has been the topic of several recent analyst reports. Jefferies Financial Group cut their price target on shares of Ramaco Resources from $19.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Benchmark reaffirmed a "buy" rating on shares of Ramaco Resources in a research note on Wednesday, March 12th. Finally, B. Riley decreased their price target on shares of Ramaco Resources from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, April 11th.

Ramaco Resources Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.